Fish&Fly - Adventure Fly Fishing: Farlows Casts a Line for the Future
Farlows Casts a Line for the Future
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Editor on 08/11/2013 06:00:00
BDBCO 870 Limited has become the sole investor in Farlows, the British fishing
and outdoor pursuits emporium, after it completed an acquisition deal for an
undisclosed sum with the 173 year old Royal Warrant holding retailer.
The deal, which includes the repayment of all debt and the provision of new
working capital, will secure the future for the rural stalwart, which has faced
challenging trading conditions and expansion struggles.
Recognised names in country pursuits form part of the BDBCO Limited board.
Vladimir Rybalchenko of Kharlovka Co. and the Atlantic Salmon Reserve - a
Russian national with an over-riding passion for Salmon fishing and conservation
- is the majority shareholder and chairman. Rybalchenko’s ASR is the
world’s first conservation area for Atlantic salmon, sea trout and wild brown
trout and Arctic char.
He is supported by Bryan Richmond Dodd of British Sporting Investments Ltd and
Richard Hewitt, chairman of Fish & Fly both existing Farlows directors. Harris
and Sheldon Ltd., former owners of Hardy & Greys Ltd, retain a minority
shareholding and Justin McCarthy, director of fishing at the Atlantic Salmon
Reserve, joins the board.
Farlows’ Pall Mall shop is a Mecca for fly fishing devotees and enjoys the
patronage of both amateur and expert angling enthusiasts alike. Its customer
base is increasingly international and the store serves not just those who live
the country life but affluent City figures who are being invited into the
rarefied salmon fishing and shooting world for the first time.
In addition to stocking brands such as Dubarry, Schoffel and Sage, in recent
years the retailer has started redeveloping its own-label clothing and
accessories offering. The investment strategy will focus on developing retail
channels, including e-commerce expansion for Farlows and sister brand,
Sportfish. The deal also brings international growth under one team, following
the opening of ‘Farlows on Palace Square’ in St Petersburg with Kharlovka
Co. in June 2013.
Commenting on the acquisition, Vladimir Rybalchenko said:
“Optimising the future for two of fly-fishing and country sports’ iconic
brands is a challenge I’m delighted to be spearheading. Farlows has a long
history of providing the very best service to its game fishing clients and
safeguarding the future for a new generation of fishing aficionados is now
achievable. Sportfish will continue to develop its award winning direct sales
channels.and with both brands we will be looking closely at the sporting agency
and international travel sector.”
Richard Hewitt the Farlow’s Director who negotiated the deal with Mr
Rybalchenko added:
“We are all excited that for the first time in many years the business will be
properly resourced and will have a platform that can enable our brands to grow
substantially.”
HRH The Prince of Wales granted Farlows a Royal Warrant as suppliers of fishing
tackle and waterproof clothing in 1982 and well known customers include Jeremy
Paxman, Max Hastings, Uma Thurman and Fiona Armstrong.
FARLOWS
Farlows was established in 1840 by Charles Farlow and opened its first ‘rod
and tackle’ shop at 221 The Strand, London. The retailer has traded from
Charles Street and The Royal Arcade, moving to 9 Pall Mall - formerly the Royal
Bank of Scotland - in 2004.
Farlows has held a Royal Warrant as suppliers of fishing tackle and waterproof
clothing to HRH The Prince of Wales since 1982.